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This is why TON coin is expected to reach $50 by the end of 2024!
The TON blockchain is on a continuous rise, as is the price of its token. This blockchain started to gain fame with the emergence of tap-to-earn games like Notcoin and Hamster Combat. These two cryptocurrency-backed games have significantly boosted the popularity of Telegram. This has given a huge boost to the TON Price. But is there more to this trend? Let’s explore.
Telegram Open Network Integration
These Telegram-based applications use the Telegram Open Network. As a result, the use of its blockchain has increased. Data from Artemis shows that the daily transaction rate of the TON blockchain far exceeds that of Ethereum and continues to increase. On July 17, TON recorded 4.9 million transactions, while Ethereum only had 1.2 million. Furthermore, TON’s daily active address count leaves Ethereum far behind. Even compared to Ethereum Layer 2 solutions such as Arbitrum, Base, and Optimism, the Telegram Open Network leads in daily transactions.
Source: Atemis
TON price increase
The growing popularity of TON-based games justifies its price surge. Comparing it with Bitcoin’s price action, it emerges as the winner. On March 14, Bitcoin hit a new ATH but later fell by almost 27%, losing $20,000. In contrast, from March 14 to April 11, TON surged by 102%. Currently, TON is trading close to its ATH at $7.28. With healthy corrections, TON’s price continues to surge. Since February 24, TON has surged by 310%, while Bitcoin has surged by just 22%.
Source: TradingView
Despite the price difference, TON’s continuous upward curve contrasts with Bitcoin’s downward trend. If TON maintains its current momentum, it could easily reach $35-$40 by the end of the year. If new features are introduced and more apps like Hamster Kombat and NotCoin gain popularity, its price could potentially reach $50.
The rise of Telegram as an app for everything
TON has surpassed Bitcoin in daily transactions and is giving it tough competition in daily active addresses.
Source: Artemis
The developments at Telegram suggest that the social media app is on its way to becoming an EVERYTHING app. Telegram already offers messaging, calling, video streaming, groups, and supergroups. Now, with the introduction of mini apps, Telegram is gaining significant fame. Its nearly 1 billion user base fully supports its growth. The introduction of crypto-based games will help its blockchain become more engaging and the price of the token will skyrocket.
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